Satellite Communication Terminal Market Worth US$ 6,030.7 Million, Globally, by 2028 at 6.5% CAGR - Exclusive Report by The Insight Partners

According to our latest market study on "Satellite Communication Terminal Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Classification and Application," the market was valued at US$ 3,877.1 million in 2021 and is projected to reach US$ 6,030.7 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.

A portable satellite communication terminal, also known as a hotspot or satellite communicator, is one of the smallest 2-way SATCOM devices. Such satellite communication terminal uses an internal GPS chip for gathering location information. When the SEND option is selected, the location information is sent to a commercial monitoring agency via commercial satellites.

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The role of the commercial monitoring agency is to forward the information to the respective responding agency. Typically, the purchasers of portable satellite communication devices are involved in activities like mountain biking, hiking, boating, climbing, and flying. Small SATCOM terminals are also useful for individuals who have to work in remote areas, such as foresters, loggers, fishers, geologists, and wildlife staff.

Competitive Landscape: Satellite Communication Terminal Market: Airbus; AVL Technologies; Collins Aerospace; General Dynamics Mission Systems, Inc.; Honeywell International Inc.; L3Harris Technologies, Inc.; NEC Corporation; ST ENGINEERING; Thales Group; and Viasat, Inc.

Enhanced features such as breadcrumb tracking via Google Earth and sending preprogrammed messages are also offered via portable and small SATCOM terminals. Some of the latest devices that provide 2-way communication via satellite are Spot X, Germin InReach mini, Bivy stick blue, and Zoleo satellite communicator, among others. Iridium started its Global Maritime Distress and Safety System service (GMDSS) in 2020. The launch of new GMDSS terminals facilitates access to a fleet of vessels, which are needed by maritime law to maintain the L-band safety service. The demand for portable and small SATCOM terminals is forecasted to grow notably in the coming years due to enhanced utility.

The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Satellite Communication Terminal market. The researcher provides an extensive analysis of the Satellite Communication Terminal market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

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The satellite communication terminal market is segmented based on classification, application, and geography. Based on classification, the market is segmented into C band, X band, S band, Ku band, and Ka band. Based on application, the market is segmented into military use and civil use. In terms of region, the satellite communication terminal market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The trend of customized satellite communication solutions for marine and military ground vehicle applications is increasing day by day. Many new SATCOM solutions help establish uninterrupted communication even when the ship or the military ground vehicle is moving. Satellite communication on the move (SOTM) allows respective defense forces to share data and voice communication effectively and efficiently when traveling in tactical vehicles at speeds of up to 80 mph (130 km/h). As per the location, size, and shape of the military ground vehicle or any ship, the requirement for customized satellite communication terminals is increasing nowadays.

Impact of COVID-19 Pandemic on Satellite communication terminal Market

North America is one of the most significant regions with respect to the adoption and growth of new technologies, owing to favorable government policies to boost innovation. The COVID-19 pandemic impacted certain industries like leisure, travel, and tourism. Aviation, media & entertainment, and telecommunication are significant fields that contribute majorly toward the satellite communication terminal market growth in North America. In April 2020, Nielsen, a US rating agency, estimated that "staying in the home" can lead to a remarkable 60% increase in the amount of content watched. Since many people had to stay at home in the US, Canada, and Mexico, the amount of viewed online and entertainment content went up drastically.

Our Sample Report Accommodate a Brief Introduction of the research report, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology

In Market Segmentation by Geographical Regions, the report has analyzed the following regions-
• North America (USA, Canada and Mexico)
• Europe(Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Highlights of the report:
• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market

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